THE ROTARY CLUB OF WARRINGTON CHARITY FUND
REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
CHARITY NUMBER 245713
THE ROTARY CLUB OF WARRINGTON CHARITY FUND
Index to Financial Statements For the Year Ended 30 June 2024
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Trustees’ Report | 2 - 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 |
| Notes to the Financial Statements | 6 - 12 |
| Independent Examiner’s Report and Statement | 13 |
THE ROTARY CLUB OF WARRINGTON CHARITY FUND
Legal and Administrative Information For the Year Ended 30 June 2024
TRUSTEES: Mr M G Brown Mr E Russell Mrs V Gannon Mr G W Wilkinson REGISTERED OFFICE: Hawthorn Cottage Cann Lane South Appleton Warrington WA4 5NJ CHARITY NUMBER: 245713
Page 1
THE ROTARY CLUB OF WARRINGTON CHARITY FUND
Trustees’ Report For the Year Ended 30 June 2024
The Trustees submit their report and unaudited accounts for the year ended 30 June 2024.
Legal and administrative information set out on page 1 forms part of this report.
Trustees
The Trustees who served during the year and to the date of this report were:
Mr M G Brown Mr E Russell Mrs V Gannon Mr G W Wilkinson
Structure, Governance and Management
The organisation is an unincorporated association and charitable trust, established on 9 August 1965, and registered as a charity (245713) on 15 December 1965.The day to day running of the charity is managed by the Trustees who are appointed by the members of the Charity.
Principal Objectives and Activities of the Charity
The objects and principal activities are:
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Raising money and providing support to local and Rotary supported charities and organisations
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To encourage and foster:
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The development of acquaintance as an opportunity for service.
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High ethical standards in business and professions; the recognition of the worthiness of all useful occupations; and the dignifying of each Rotarian's occupation as an opportunity to serve society.
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The application of the ideal of service in each Rotarian's personal, business and community life.
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The advancement of international understanding, goodwill, and peace, through a world fellowship of business and professional persons united in the ideal of service.
In setting our objectives and planning our activities, the Trustees have given consideration to the Charity Commission guidance on public benefit.
The main specific activities carried out during the year were as follows:
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A very successful 26[th] Oktoberfest fund raising event to raise funds to support charities and organisations.
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Ongoing support to the Lendwithcare scheme to assist entrepreneurs in developing countries.
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Working in the community including various projects assisting the local community. This included working with local schools to participate in The Rotary Youth Speaks competition and to design and take part in a “Crazy Karts” competition. In addition, twiddle muffs were made for people with dementia.
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A successful 25[th] Indian Curry fund raising event to support charities and organisations
The above, as with all activities were undertaken to further the charity’s purposes for the public benefit.
Page 2
THE ROTARY CLUB OF WARRINGTON CHARITY FUND
Trustees’ Report For the Year Ended 30 June 2024
Achievements and Performance
The grants made from The Rotary Club of Warrington Charity Fund have ensured that the objectives of the charity continue to be met for the year to 30 June 2024
Financial Review
The net income is £7,296, compared to a net income of £4,952 in 2023. In addition, charitable giving increased from £16,356 to £19,183 which was possible due to continual income from very successful Oktoberfest and Curry meal events. The reserves increased from £24,082 to £31,378 and cash reserves are £28,929. The reserves are considered adequate for future requirements.
Risk Management
The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
Membership
During the year, membership of the charity reduced from 23 on 30 June 2023 to 22 on 30 June 2024.
Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these accounts, the Trustees are required to:
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select suitable accounting policies and then apply them consistently.
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observe the methods and principles of the Charities SORP.
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make judgements and estimates that are reasonable and prudent.
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state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the accounts, and.
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and enable them to ascertain to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website.
The accounts have been prepared in accordance with the accounting policies set out in note 1(a) to the accounts and comply with the Charities trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Approved by the trustees and signed on their behalf by
Mr. M G Brown, Trustee DATE: 30 September 2024
Page 3
THE ROTARY CLUB OF WARRINGTON CHARITY FUND
Statement of Financial Activities (including Income and Expenditure Account) For the Year Ended 30 June 2024
| Unrestricted Restricted | Unrestricted Restricted | Total |
Total | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||
| 2024 | 2024 | 2024 | 2023 | ||
| Notes | £ | £ | £ | £ | |
| Incoming resources | |||||
| Income and endowments from: | |||||
| Donations | 2 | 5,265 | - | 5,265 | 6,681 |
| Other trading activities | 3 | 47,497 | - | 47,497 | 48,597 |
| __ | __ | __ | __ | ||
| Total | 52,762 | - | 52,762 | 55,278 | |
| __ | __ | __ | __ | ||
| Resources expended | |||||
| Expenditure on: | |||||
| Raising funds | 4 | 22,474 | - | 22,474 | 26,894 |
| Charitable activities | 5 | 22,855 | - | 22,855 | 22,442 |
| Other | 6 | 137 | - | 137 | 990 |
| __ | __ | __ | __ | ||
| Total | 45,466 | - | 45,466 | 50,326 | |
| __ | __ | __ | __ | ||
| Net income | 7,296 | - | 7,296 | 4,952 | |
| Transfers between funds | - | - | - | - | |
| __ | __ | __ | __ | ||
| Net movement in funds | 7,296 | - | 7,296 | 4,952 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 24,082 | - | 24,082 | 19,130 | |
| __ | __ | __ | __ | ||
| Total funds carried forward | 12 | 31,378 | - | 31,378 | 24,082 |
| ======= | ======= | ======= | ======= |
There were no recognised gains or losses other than as stated in the Statement of Financial Activities. Page 4
THE ROTARY CLUB OF WARRINGTON CHARITY FUND
Statement of Financial Position as at 30 June 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Current Assets | |||||
| Cash at bank and in hand | 28,929 | 21,822 | |||
| Loans – Lendwithcare | 8 | 2,582 | 2,759 | ||
| Debtors | 9 | - | 500 | ||
| __ | __ | ||||
| Total current assets | 31,511 | 25,081 | |||
| Creditors:amounts falling due | |||||
| within one year: | |||||
| Accruals and deferred income | 10 | 133 | 999 | ||
| __ | __ | ||||
| Net current assets | 31,378 | 24,082 | |||
| __ | __ | ||||
| __ | __ | ||||
| Total net assets | 31,378 | 24,082 | |||
| ======= | ======= | ||||
| Funds of the Charity | |||||
| Unrestricted funds | 31,378 | 24,082 | |||
| __ | __ | ||||
| Total funds | 12 | 31,378 | 24,082 | ||
| ======= | ======= |
The accounts were approved by the Trustees and authorised for issue on 30 September 2024 and were signed on their behalf by:
Mr M G Brown
Trustee
Page 5
THE ROTARY CLUB OF WARRINGTON CHARITY FUND
Notes to the Financial Statements
For the Year Ended 30 June 2024
1. Accounting Policies
The following accounting policies have been applied consistently regarding items considered material to the accounts.
a) Accounting convention
The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS102.
b) Basis of preparation
The Trustees have considered transactions that are anticipated to take place in the foreseeable future and have concluded that no additional financial resources will be required. On this basis the Trustees have concluded that adopting the going concern basis of accounting in preparing the annual accounts is appropriate.
c) Incoming resources
Income is credited to the statement of financial activities (SOFA) at the time it is received unless it relates to a future period. Fees charged by 3[rd] parties and deducted from the amount collected before it is remitted to the charity are added to income and classed as a fundraising expense. (This applies to card machine income). In the case of performance related grants, income is recognised when the performance related conditions are met. Membership subscriptions received in the nature of a gift are recognised in Donations. Income tax recoverable under gift aid is recognised when applied for and the receipt is probable.
d) Resources expended
Resources expended are included in the statement of financial activities on an accruals basis, inclusive of any VAT which cannot be recovered.
e) Tax reclaimed on donations and gifts
Gift aid receivable is included in income when there is a valid declaration from the donor and the gift aid has been applied for. In the case of specific projects, any gift aid amount recovered on a donation is considered to be part of that donation as an addition to the same fund as the initial donation. Gift aid on donations received for Oktoberfest are included in Oktoberfest income.
f) Fund accounting
General Funds held by the charity, classed as unrestricted funds, can be used in accordance with the charitable objectives at the discretion of the Trustees. Funds designated for a particular purpose are also unrestricted. Restricted income funds are those funds that must be spent on restricted purposes.
g) Reserves
- The Trustees maintain adequate cash reserves to meet unplanned contingencies. This policy was adhered to throughout the year.
Page 6
THE ROTARY CLUB OF WARRINGTON CHARITY FUND
Notes to the Financial Statements For the Year Ended 30 June 2024
1. Accounting Policies continued
h) Deferred income
When income is received in a financial year for future events that take place after that financial year end, the income is deferred and recognised in the SOFA as income in the following year.
.
i) Loans receivable
Loans receivable under the Lendwithcare arrangements are recorded as current assets. Although some repayments may not be received until after twelve months, no estimate is made of these amounts and the total amount owed is included in current assets. The loans are measured on initial recognition of the settlement amount. Subsequently they are measured at the cash expected to be received.
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THE ROTARY CLUB OF WARRINGTON CHARITY FUND
Notes to the Financial Statements For the Year Ended 30 June 2024
Analysis of Income by Activity
2. Donations
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Total|Total|
|2024|2023|
|Unrestricted Restricted|
|£|£|£|£|
|Donations|1,473|-|1,473|2,265|
|Gift Aid|842|-|842|711|
|Rotary District Grants|-|-|-|1,100|
|Membership Subscriptions- classed as donations|2,950|-|2,950|2,605|
|_ _ _ _|
|5,265|-|5,265|6,681|
|======= ======= ======= =======|
|Other Trading Activities|
|Total|Total|
|2024|2023|
|Unrestricted Restricted|
|£|£|£|£|
|Fundraising Events:|
|Oktoberfest|38,981|-|38,981|41,616|
|Curry Meal|5,801|-|5,801|4,347|
|Charter Night|2,715|-|2,715|2,634|
|_ _ _ _|
|47,497|-|47,497|48,597|
|======= ======= ======= =======|
|_ _ _ _|
|Total|52,762|-|52,762|55,278|
|======= ======= ======= =======|
|Analysis of Expenditure by Activity|
|Raising Funds (expenditure)|
|Total|Total|
|2024|2023|
|Unrestricted Restricted|
|£|£|£|£|
|Fundraising Events:|
|Oktoberfest|20,344|-|20,344|22,579|
|Curry Meal|49|-|49|1,900|
|Charter Night|2,081|-|2,081|2,415|
|_ _ _ _|
|22,474|-|22,474|26,894|
|======= ======= ======= =======|
----- End of picture text -----
3. Other Trading Activities
Analysis of Expenditure by Activity
4. Raising Funds (expenditure)
Page 8
THE ROTARY CLUB OF WARRINGTON CHARITY FUND
Notes to the Financial Statements For the Year Ended 30 June 2024
Analysis of Expenditure by Activity (continued)
5. Charitable Activities (expenditure)
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Total|Total|
|2024|2023|
|Notes|Unrestricted Restricted|
|£|£|£|£|
|Grant Payments 13|19,183|-|19,183|16,356|
|Project Costs 14|734|-|734|3,151|
|Support Costs 7|2,938|-|2,938|2,935|
|_ _ _ _|
|22,855|-|22,855|22,442|
|======= ======= ======= =======|
----- End of picture text -----
6. Other Costs (expenditure)
----- Start of picture text -----
||||||
|---|---|---|---|---|
|Total|Total|
|2024|2023|
|Unrestricted Restricted|
|£|£|£|£|
|Profit and Loss on Exchange 8|137|-|137|990|
|_ _ _ _|
|137|-|137|990|
|======= ======= ======= =======|
|_ _ _ _|
|Total|45,466|-|45,466|50,326|
|======= ======= ======= =======|
|Support Cost Breakdown by Activity|
|Charitable|Total|Total|
|Activities|2024|2023|
|Unrestricted Restricted|
|£|£|£|£|
|Subscriptions-District and RIBI|2,195|-|2,195|1,975|
|Governance|50|-|50|50|
|Publicity and Marketing – Educational|-|-|-|500|
|Lendwithcare default write off|41|-|41|49|
|Sundry|652|-|652|361|
|_ _|_ _|
|2,938|-|2,938|2,935|
|======= =======|======= =======|
----- End of picture text -----
7. Support Cost Breakdown by Activity
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THE ROTARY CLUB OF WARRINGTON CHARITY FUND
Notes to the Financial Statements For the Year Ended 30 June 2024
8. Loans – Lendwithcare
Lendwithcare assists entrepreneurs in developing countries by giving them a helping hand to get their business started through microfinance loans. The loans are repaid by instalments and when the repayments are received, further loans are then made to new ventures.
From an investment of £4,000, total money lent under the scheme is £34,474 and £30,678 has been repaid. The current years defaults total £41 and previous years defaults were £279.
The charity has been assisting the scheme for 10 years and in the previous year for the first time, additional information has been provided to identify that currency losses over the first 9-year period amounted to £945. It was necessary to incorporate a currency loss adjustment of £990 into the previous year’s accounts. Further currency losses of £137 are included in the current year The balances to be repaid total £2,378 and added to a cash balance of £204 gives a balance on the account of £2,582 at 30 June 2024. The balances due are currently on 87 individual loans and are due to be repaid by instalments across different timescales. The charity does not receive any interest payments on the loans.
Current loans have been made into Ecuador, Rwanda, Cambodia, Peru, Vietnam, Philippines, Malawi, Pakistan, Thailand and Zambia
9. Debtors
There were no debtors at 30 June 2024. Previous years debtors of £500 were for a payment made in advance for the Charter Night which was held in November 2023
10. Accruals and deferred income
Accruals and deferred income of £133 at 30 June 2024 are creditors paid by the charity in July 2024 The previous year total of £999 was for creditors of £169 and deferred income of £830. The deferred income was for sponsorship monies received prior to 30 June 2023 towards the 2023 Oktoberfest fund raising event.
11. Analysis of Net Assets By Fund
| Analysis of Net Assets By Fund | |||
|---|---|---|---|
| Unrestricted | Restricted | Total | |
| Funds | Funds | ||
| £ | £ | £ | |
| Cash at bank | 28,929 | - | 28,929 |
| Loans | 2,582 | - | 2,582 |
| Other debtors | - | - | - |
| Accruals and deferred income | (133) | - | (133) |
| __ | __ | __ | |
| Total Net Assets | 31,378 | - | 31,378 |
| ======= | ======= | ======= |
Page 10
THE ROTARY CLUB OF WARRINGTON CHARITY FUND
Notes to the Financial Statements For the Year Ended 30 June 2024
12. Analysis of Funds
| Balance At Incoming Resources 01/07/2023 Resources Expended Transfers £ £ £ £ Unrestricted Funds: Trust Account 18,936 48,923 (40,995) - General Account 5,146 3,839 (4,471) - _ _ _ _ Total Unrestricted Funds 24,082 52,762 (45,466) - _ _ _ _ Total Funds 24,082 52,762 (45,466) - ======= ======= ======= ======= |
Balance At 30/06/2024 £ 26,864 4,514 |
|---|---|
| 31,378 __ 31,378 ======= |
13. Grants Paid
Grants paid were £19,183 and all support costs of £2,938 were allocated and added to the SOFA heading of Charitable activities. Support costs are not allocated against individual grants. The Rotary International Charity is the Rotary Foundation and in total, grants of £1,696 were paid to the Rotary Foundation. Of this amount, £886 was paid towards the End Polio Now Programme and the balance of £810 was paid to the annual fund for the purpose of supporting the Rotary Foundation aims. In addition, some of the charity members made donations direct to the Rotary Foundation as sustaining members.
The balance of the remaining grants paid was £17,487 and this was paid to 33 different institutions to help with the individual charities aims and projects. The largest of these grants for £1,000 or more were paid to Guide Dogs, Colours Learning Education Trust, Disaster Aid, Burtonwood and Winick Community Bus, St Rocco’ Hospice, and Cerebral Palsy FC. Grants of £500 to £999 were made to 14 other institutions. The other 13 grants paid were for amounts less than £500 Details of several of the institutions supported are included on the charity website.
14. Project Costs:
Funds of £734 were made available for four community projects in which members of the charity carried out the work.
15. Staff Numbers and Costs
The charity has no employees and no staff costs were incurred during the year.
16. Taxation
The Rotary Club of Warrington Charity Fund is a registered charity and is therefore exempt from tax on its charitable income.
17. Transactions with Trustees and Related Parties
None of the Trustees have been paid any remuneration, expenses or received any other benefits from the Charity or any related entity.
Page 11
THE ROTARY CLUB OF WARRINGTON CHARITY FUND
Notes to the Financial Statements For the Year Ended 30 June 2024
18. Liability of Members
The Rotary Club of Warrington Charity Fund is an unincorporated association; a charitable trust. As such, the Trustees can become liable for any debts incurred during the charity’s business.
19. Financial Period
These financial statements cover the year ended 30 June 2024. The Trustees have selected 30 June as the most appropriate date for preparing financial statements.
Page 12
I THE ROTARY CLUB OF WARRINGTON CHARITY FUND
Independent Examiner’s Report on the Accounts.
I report to the trustees on my examination of the Accounts of the above charity for the year ended 30[th] June 2024.
The charity’s trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act) and confirm that an independent examination is needed.
I report in my respect of my examination of the Charity accounts carried out under section 145 of the Charities Act 2011, and in carrying out my investigation I have followed all the applicable directions given by the Charities Commission under section 145(5) of the Act.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect
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The accounting records were not kept in accordance with section 130 of the Charities Act or
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The accounts did not comply with the accounting records or, the accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulation 2008, other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have come across no other matters in connection with the examination to which attention should be drawn in this report to enable a proper understanding of the accounts to be reached.
Peter W Hurst FCMA CGMA
Fellow of the Chartered Institute of Management Accountants
2 Foxes Hey Cuddington, Northwich Cheshire CW8 2UU
Date: 30 September 2024
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